Categories: Everyday News

Government allocates Rs87bn for CPEC in budget 2021-22

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Asad Umar, said that the government will allocate Rs87 billion for the execution of China-Pakistan Economic Corridor (CPEC) projects. 

invest with imarat

Islamabad’s emerging city centre

Learn More

As per details, National Economic Council (NEC) earmarked Rs6.2 billion for Mainline (ML-1) and Rs42 billion for Western Wing. The government also allocated Rs7 billion for the development of infrastructure of Special Economic Zones (SEZs). 

According to sources, the minister said that the federal Public Sector Development Program (PSDP) budget was increased from Rs660 billion to Rs900 billion in the upcoming budget, indicating an increase of 36.4 per cent. 

While briefing CPEC Authority Chairman Lt Gen (retd) Asim Salem Bajwa at the P Block, Asad Umar said that the commitment to completion of CPEC projects has strengthened as the issue of circular debt and nonpayment to IPPs has now been resolved. 

 

For more news, visit Graana.com

 

Maham Tahir

Recent Posts

Rice Mills in Pakistan: An Overview

Rice, a dietary staple for millions worldwide, is a cornerstone of Pakistan’s agriculture and economy.…

3 hours ago

Gwadar Port Poised to Handle 60% of Public Sector Imports

ISLAMABAD: The federal government is assessing the feasibility of routing 60% of public sector imports—such…

3 hours ago

Exploring Kali Tanki: A Landmark in Rawalpindi

Kali Tanki, a well-known location in Rawalpindi, has gained recognition for its strategic position, historical…

1 day ago

Shingrai Waterfall: Your Ultimate Adventure Destination

Swat, famously known as the "Switzerland of Pakistan," is a land of mesmerizing beauty. It is…

2 days ago

Top 5 Reasons Why Millennials Are Investing in Real Estate

Millennials, often referred to as the “financially cautious generation,” are reshaping the investment landscape. Known…

3 days ago

IMARAT Group’s First Restaurant, Graanic Launches Organic Dining Experience at Mall of IMARAT

Graanic, Pakistan's premier organic food brand, has officially launched its new restaurant at Mall of…

3 days ago